✅A full explanation of the credit ladder and how it works in the UK.
In this video I go through the different tiers of credit cards, what the difference between these tiers is, the types of products in each tier with lots of examples and explain what it takes to move between tiers.
I was inspired to make this video by Ben @CreditShifu who did a Credit Ladder video a few years ago for the US market and then did a 2020 update more recently – check out the update video here: https://www.youtube.com/watch?v=pBtSNH8lU6A
As there wasn’t anything similar for the UK market, I thought I’d talk about the way the tiers work here and the specific credit cards that are available within each tier.
Introduction – 0:00
Tier 1: Credit Builder credit cards – 1:08
Tier 2: Basic credit cards – 4:23
Tier 3: Reward and Debt Shifting credit cards – 7:52
Tier 4: Premium credit cards – 11:08
Tier 5: Black cards – 16:58
Link to the video about the last remaining UK cashback cards: https://youtu.be/AQSDQIWSsso
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DISCLAIMER: I am not a financial advisor and this is not a financial advice channel. All information is provided strictly for educational purposes. It does not take into account anybody’s specific circumstances or situation. If you are making investment or other financial management decisions and require advice, please consult a suitably qualified licensed professional.
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